Frankfurt
17 July 2017
Reporter: Drew Nicol

Clearstream sets sights on CSDR licence


Deutsche Börse subsidiary Clearstream is set to apply for new licenses to operate under the central securities depositories regulation (CSDR).

CSDR obligations require Europe’s CSDs to submit application files to local regulators by 30 September 2017.

Clearstream expects authorisations to be granted from mid-May 2018 onwards.

“This will be a first step to even further bolster safety and stability across Europe’s capital markets in a post-financial-crisis world,” Clearstream explained.

“As the new regulatory keystone for the sector, CSDR aims to harmonise the different Rules, which apply to European CSDs in order to create an improved and level playing field for the industry, and enhance legal and operational conditions for EU-wide cross border settlement via Target2-Securities (T2S).”

Clearstream global securities financing volume fell by 13 percent in June.

Monthly volumes hit €452.7 billion last month, down from €520.8 billion at the same time last year.

Year to date average volume was also down 11 percent compared to 2016, falling to €470.5 billion from €527.4 billion.

More regulation news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
LEIs offer major cost savings, says OFR
17 November 2017 | Washington DC | Reporter: Drew Nicol
The OFR noted that early academic studies found that cost savings associated with adoption of the LEI approached $1 billion annually
MTS and UnaVista to collaborate for SFTR
13 November 2017 | London | Reporter: Jenna Lomax
The collaboration means that firms trading on MTS’s new global collateral management segment will be able to use UnaVista’s trade repository to trade under SFTR
LSE teams up with APIR Systems to brings LEIs to Australasia
08 November 2017 | London | Reporter: Drew Nicol
Industry estimates suggest more than 250,000 entities are still without the required LEIs
MiFID II creates “much uncertainty” for EEA members
06 November 2017 | Oslo | Reporter: Jenna Lomax
For EEA members, “much uncertainty” remains regarding ESMA's assessment of the EEA legal basis for MiFID II, according to Norway’s Finanstilsynet
SimCorp: MiFID II remains a concern for buy-side firms
01 November 2017 | London | Reporter: Becky Butcher
Some 28 percent of buy-side representatives are still unsure if and how their firm will be affected by MiFID II, just 90 days before the implementation deadline, according to a SimCorp survey
SEC grants relief to US brokers on MiFID II
27 October 2017 | New York | Reporter: Theo Andrew
The division of investment management issued three no-action letters, providing 30 months relief, allowing US broker-dealers to receive payments in hard dollars
Solvassure creates first-of-its-kind integrated reg platform
25 October 2017 | London | Reporter: Theo Andrew
The compliance platform addresses demands under the General Data Protection Regulation and the Accountability Regime, to help firms meet next year's regulatory deadlines
More regulation news